Walmart to open store on VCU campus

Walmart has signed a lease with the VCU Real Estate Foundation to open a 4,100-square-foot store on Virginia Commonwealth University's campus in late 2014 or early 2015.

The new store is a part of a Walmart pilot program, Walmart on Campus, which focuses on opening smaller format Walmarts that offer quick and convenient shopping options on college campuses.

“With its product mix, pharmacy and services, this is a great addition to retail growth on and around campus that meets the needs of students, faculty, staff and surrounding neighborhoods,” Diane Reynolds, assistant vice president for business services at VCU, said in a statement.

The store will be Walmart's fifth Walmart on Campus, having previously opened locations at the University of Arkansas, Arizona State University, Georgia Tech and the University of Missouri.

It will be located on the first floor of a seven-story building currently under construction at 912 W. Grace St. The building is owned by the VCU Real Estate Foundation, a nonprofit established to acquire, lease, develop and dispose of real estate for the benefit of VCU. In addition to Walmart, the building will include classrooms and administrative offices.

According to Walmart, the store will employ about 10 associates.